Stocks - Q : Quality | V : Valuation | PT : Price Trend
Funds - P : Performance | Q : Quality
Funds - P : Performance | Q : Quality
Reliance Industries may raise today as much as $880 million (Rs 4,244 crore), selling its own shares which were in a trust so far, as the company may be planning to acquire a petroleum asset overseas taking advantage of fallen valuations, according to sources. The company may also use the proceeds to invest in expanding oil exploration which may need around $3 billion.
The company has mandated DSP Merrill Lynch and Citigroup to sell as many as 1 crore shares of
Petroleum Trust ended up owning shares in RIL, after the company decided to monetise the shares it was getting out of a share swap merger with Reliance Petroleum in 2002 instead of extinguishing them. The Trust holds 10.47 crore of RIL’s shares, or 6.65% of RIL’s capital, a part of which is being sold now. RIL set up for the second time a company with the name Reliance Petroleum and merged that too with itself in 2009, but decided to extinguish the shares arising out of the latest merger.
There can be many reasons for share sale, it may be looking at a major acquistion globally as there are many assets available abroad. Sources also say that RIL is gearing up for $9-billion acquisition abroad. The acquisition theory is gaining ground, since the company does not need cash now. This 1-crore share sale is only the first tranche, also Rs 15,000 crore from the warrants conversion last year is lying idle in fixed deposit, fetching interest. RIL may be preparing for a war chest. Also RIL may probably believe that the stock is appropriately valued now and there may not be an upside to it and it may be the best time to sell.
crackcrack
| Company Name | CMP |
|---|---|
| Reliance Industries | 1300.05 |
| Indian Oil Corp. | 134.60 |
| BPCL | 295.40 |
| HPCL | 379.85 |
| MRPL | 137.20 |
| View more.. | |
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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